City of Memphis missing more than $17K in petty cash

City of Memphis missing more than $17K in petty cash

MEMPHIS, TN (WMC) - A random audit of petty cash funds for City of Memphis found more than $17,000 is missing.

Fifty-three city services petty cash funds were checked at the end of 2017.

Petty cash is used to provide immediate cash payment for emergency expenditures.

City leaders are now recommending terminating all petty cash funds in part because accounts were not kept up to date.

Each program that wants to maintain petty cash will have to re-apply under new guidelines.

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